SkyHaven has been established to provide sophisticated investors with access to an unlisted real estate investment trust (REIT) designed to build, invest, and mange a short-term accommodation solution at Cairns Airport.

SkyHaven has been granted approval to develop the 186 short-term accommodation units at Cairns Airport with a 50-year leasehold tenure.

This is a unique opportunity for impact-driven investors to participate in a high-yield regional accommodation development that prioritizes environmental sustainability, social responsibility, and strong governance. Investors will benefit from a robust governance framework and a commitment to ESG principles that align with the growing demand for responsible investment opportunities.

SkyHaven will provide investors with the opportunity to gain exposure in the first accommodation precinct to be developed at Cairns Airport.

The initial private offer of the fund has a hard cap limit of $30 million AUD.

Total project cost has been estimated at $55m, is forecast to deliver a pre-finance IRR of ~18%, and will be the first accommodation precinct to be developed at Cairns Airport.

The project will comprise of studios, one-bedroom, and two-bedroom apartments and is intended to accommodation itinerant workers, travelers, airlines and the down-stream workers within the aviation industry.

Over 30 different industry and government organisations have expressed strong interest and support for purpose-built short-term accommodation to be built at Cairns Airport.

The site, situated at the Cairns Airport Business Park on a combined land size of 7,560 m2, has development approval and is shovel ready for construction to commence in June 2025.